Russia will put up for auction a license for the development of the Tossi-More section in the Sea of Okhotsk

The Russian government has announced plans to hold an auction for a license for the development of the Tossi-More oil and gas site in the Sea of Okhotsk by the end of the year. The license will allow exploration and production at this site. The initial price is 96 thousand rubles.

According to estimates, the reserves of the Tossi-Sea section amount to about 0.1 million tons of oil and 0.1 billion cubic meters of gas. According to Russian legislation, only companies with state participation of 50% or more and experience of more than 5 years have the right to work on the Arctic shelf.

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